WELLINGTON, New Zealand--New Zealand's economy accelerated in the second quarter, but faces a setback from a Covid-19 outbreak that has shuttered the country's largest city. The economy grew 2.8% from the first quarter after a revised 1.4% increase in January-March, underpinned by higher government spending, record low interest rates and fast-rising house prices. The median forecast in a Wall Street Journal survey was for growth of 1.1% percent.
Japan's exports rose 26.2% in August from a year earlier, Ministry of Finance data showed on Thursday. The rise compares with a 34.0% increase expected by economist in a Reuters poll, and follows growth of 37.0% in July. August imports rose 44.7% year-on-year, versus the median estimate for a 40.0% increase.
Canada's annual inflation rate accelerated to an 18-year-high in August, driven by broad upward price pressures, data showed on Wednesday, just days before a hotly contested federal election that could see Prime Minister Justin Trudeau's Liberals ousted.
The following are forecasts for this week's remaining U.S. data from a survey compiled by The Wall Street Journal. Forecasts were last updated Monday afternoon. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Thursday 0830 Jobless Claims Sep 11 320 K 310 K 0830 Retail Sales Aug -0.8% -1.1%-- ex autos Aug +0.1% -0.4% 0830 Phila Fed Mfg Svy Sep 18.7 19.4 1000 Business Inventories Jul +0.5% +0.8% Friday 1000 Consumer Sentiment Sep 72.0 70.3** Aug Final Reading.
The Baltic Exchange's main dry bulk sea freight index rose for a fifth straight session on Wednesday to its highest level in more than two weeks, on gains in panamax and supramax rates. * The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, gained 12 points at 4,233, its highest since Aug. 27. * The capesize index dropped 37 points, or 0.6%, to 6,437.
Industrial production in the U.S. rose in August, reaching pre-pandemic levels, although persistent supply constraints and shutdowns related to hurricane Ida weighed on activity in some sectors. Industrial production--which includes factory, mining and utility output--rose at a seasonally adjusted 0.4% in August compared with the previous month, according to data from the Federal Reserve released Wednesday. The reading broadly matches forecasts from economists...
Production at U.S. factories slowed more than expected in August amid disruptions from Hurricane Ida and lingering shortages of raw materials and labor as the COVID-19 pandemic drags on. An improvement is likely with other data on Wednesday showing a sharp acceleration in a measure of factory activity in New York state this month against the backdrop of strong order growth and shipments of goods.
Production at U.S. factories slowed more than expected in August amid disruptions from Hurricane Ida and lingering shortages of raw materials and labor as the COVID-19 pandemic drags on. Manufacturing output increased 0.2% last month, the Federal Reserve said on Wednesday.
Canadian home sales fell 0.5% in August from July, though the average selling price rose on a month-over-month basis for the first time since March, data from the Canadian Real Estate Association showed on Wednesday. The national average selling price was C$663,503 in August, up 0.3% from July and jumping 13.3% from a year earlier, the industry group said.
* Manufacturing production increases 0.2% in August. * Industrial output rises 0.4%; Hurricane Ida hurts mining. * Import prices fall 0.3% in August; up 9.0% year-on-year. By Lucia Mutikani.
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